Cancel student debt, boost the economy

U.S. Congress

Cancelling America’s student debt would lift enormous burdens for the over 44 million Americans with student loans. But it would also boost the economy for EVERYONE, whether they have loans or not.

With over $1.5 trillion in outstanding student debt, 8 million borrowers in default, and another borrower entering default every 28 seconds, we are truly in the midst of a student debt crisis. And even those without loans are impacted: research from the Federal Reserve has shown that excess student debt among young adults is hurting the housing market.

That’s why it’s long past time for Congress to boost the economy by cancelling student debt

Cancelling student debt wouldn’t just help those paying an average of $200-300 a month in loans. Research has shown it would be an economic boom for all. A study by the Levy Institute showed that student debt cancellation would boost GDP by as much as $108 billion per year, and add up to 1.5 million jobs per year;


Combining free public higher education with debt cancellation would free the country’s student loan borrowers from a burden that shadows lives and restricts opportunities, and it makes good economic sense, too.

Sign the petition to Congress, and tell them it’s time to turbo-charge the economy and cancel student debt.



Photo by Siora Photography on Unsplash

To: U.S. Congress
From: [Your Name]

I call on you to support legislation that makes public higher education free, and cancels the majority of America’s student loan debts.

A study by the Levy Institute showed that wide scale student debt cancellation would boost GDP by as much as $108 billion per year, and add up to 1.5 million jobs per year;

Student debt cancellation would free the country’s student loan borrowers from a burden that shadows lives and restricts opportunities, and it makes good economic sense, too. I call on you to add your support to initiatives to turbo-charge the economy by cancelling student loan debt, and prevent future students from being burdened by debt by ensuring we have free access to public higher education.